10x Genomics (NASDAQ:TXG) Stock: Insider Shehnaaz Suliman Sells 5,723 Shares

Key Points

• Director Shehnaaz Suliman sold 5,723 shares of 10x Genomics at an average price of $81.19, worth approximately $464,650. Her remaining direct ownership fell 19.39% to 23,792 shares.
• TXG shares rose to $84.11 and are trading near their 52-week high of $85.93, despite the company reporting a 12.7% year-over-year revenue decline and continued losses.
• Analysts maintain a consensus “Hold” rating with a $44 price target, while institutional investors own approximately 84.68% of the stock.

10x Genomics (NASDAQ:TXG - Get Free Report) Director Shehnaaz Suliman sold 5,723 shares of the business's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $81.19, for a total value of $464,650.37. Following the completion of the sale, the director directly owned 23,792 shares in the company, valued at $1,931,672.48. This trade represents a 19.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Shehnaaz Suliman also recently made the following trade(s):

• On Monday, August 24th, Shehnaaz Suliman sold 2,207 shares of 10x Genomics stock. The shares were sold at an average price of $63.65, for a total value of $140,475.55.

10x Genomics Stock Performance

Shares of TXG traded up $8.49 during trading hours on Thursday, hitting $84.11. The company had a trading volume of 4,085,290 shares, compared to its average volume of 2,877,569. The stock has a market capitalization of $10.96 billion, a price-to-earnings ratio of -142.56 and a beta of 2.08. The firm has a fifty day moving average price of $59.11 and a 200-day moving average price of $38.16. 10x Genomics has a 52-week low of $11.16 and a 52-week high of $85.93.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.10. The company had revenue of $151.04 million for the quarter, compared to the consensus estimate of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. 10x Genomics's revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. Research analysts anticipate that 10x Genomics will post -0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TXG shares. Royal Bank Of Canada began coverage on shares of 10x Genomics in a research report on Tuesday, September 1st. They set a "sector perform" rating and a $70.00 price target for the company. Canaccord Genuity Group upped their price objective on 10x Genomics from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Stephens increased their target price on 10x Genomics from $50.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. Morgan Stanley lifted their target price on 10x Genomics from $37.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Finally, Leerink Partners boosted their price target on 10x Genomics from $23.00 to $40.00 and gave the stock a "market perform" rating in a research note on Friday, July 17th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $44.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Sei Investments Co. lifted its position in 10x Genomics by 113.5% during the first quarter. Sei Investments Co. now owns 44,679 shares of the company's stock valued at $949,000 after purchasing an additional 23,748 shares during the period. Hsbc Holdings PLC bought a new stake in 10x Genomics in the 1st quarter worth approximately $5,945,000. Clough Capital Partners L P purchased a new stake in 10x Genomics during the 4th quarter valued at $9,955,000. Proficio Capital Partners LLC purchased a new stake in 10x Genomics during the 2nd quarter valued at $781,000. Finally, Squarepoint Ops LLC bought a new position in shares of 10x Genomics during the 2nd quarter valued at $2,069,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

10x Genomics Company Profile

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company's product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.

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